Job DescriptionThis is an opportunity to join Ascot Group - one of the world's preeminent specialty risk underwriting organizations. Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we're bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way. The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric. Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world-class service - both pre- and post-claims. Ascot exists to solve for our clients' brightest tomorrow, through agility, collaboration, resilience, and discipline. JOB SUMMARY: We are looking for an Claims Counsel to join our Professional/E&O Claims Department. The position will report to the Vice President-Professional Liability Claims. The Claims Counsel, Professional Liability will focus on investigating, analyzing and evaluating claims. The ideal candidate should be a creative problem-solver with a skill for navigating systems and an eye for detail and accuracy. RESPONSIBILITIES:
- Handle a full case load of Errors & Omissions/Professional Liability (most notably Lawyers Professional Liability) as well as Miscellaneous Professional Liability matters.
- Review and evaluate loss notices and claims-related documents.
- Analyze applicable insurance policy to reported claim and determine coverage.
- Assess liability and damages and formulate case evaluation.
- Set timely reserves based on case assessment and valuation.
- Negotiate and resolve claims.
- Properly document claim files after all relevant activities.
- Assign defense counsel when necessary and effectively manage the litigation process.
- Communicate with multiple parties in the distribution chain, including retail and wholesale brokers, underwriters, insureds and their counsel, in addition to internal claims team and senior claim management.
- Maintain knowledge of trends and development and provide feedback to claims and underwriting team.
- Attend industry conferences and assist with Ascot's marketing efforts.
MINIMUM REQUIREMENTS:
- Bachelor's Degree, with a J.D., preferred, or related field of study.
- 3-5 years' of relevant legal or claim handling work experience, ideally in the handling of Professional/E&O claims, both either at an insurance carrier or in private practice.
- Demonstrated ability to effectively work through conflict and resolve issues with a professional demeanor.
- Ability to make sound decisions and negotiate terms and conditions within a designated authority limit.
- Time management skills with the ability to manage multiple priorities with attention to detail, work in a fast-paced environment and be able to effectively prioritize projects and assignments for multiple internal clients.
- Strong verbal and written communication skills with the ability to clearly articulate coverage determinations.
- Ability to build and maintain effective and collaborative relationships with colleagues, customers, and business partners.
- Must be a self-starter and work independently. Must have the initiative and desire to contribute to multiple projects, some of which may fall outside the scope of a similar role at a larger company.
- Strong knowledge of Microsoft Office products as well as claims system skills required.
- 10% travel required.
***This position may be filled at a different level, depending on experience*** Compensation Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot's total compensation package for employees. Other rewards may include annual cash bonus, and other forms of discretionary compensation awarded by the Company. The annualized base pay range for this role is: New York City Metro Area: $130,000 - $150,000. Company Benefits The Company provides a competitive benefits package that includes the following (eligibility requirements apply): Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more. Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver) Retirement Benefits: Contributory Savings Plan (401k).